AFRIICA – Technology infrastructure and services provider Liquid Intelligent Technologies, a business of Cassava Technologies, has finalised its 100% acquisition and delisting of Israeli-based technology company Telrad.
Telrad, which has a presence in 13 countries across the Middle East, South America, the US, Eastern Europe and Asia, offers innovative technology products, services and solutions, including networking, cloud infrastructure, information technology, geoinformatics and cybersecurity, for global businesses and governments.
“Earlier this year, Liquid had entered into a definitive agreement to acquire Telrad, and I am pleased that we have concluded this transaction,” said Liquid deputy chairperson Nic Rudnick.
“We look forward to the seamless integration of Telrad’s strong research and development programme and technology solutions in cybersecurity, data centres and wireless access technology with Liquid’s existing portfolio of solutions.
“Liquid and Telrad share similar ideologies of empowering customers through cost-effective connectivity and technology solutions. Together, we will continue to digitally transform businesses globally.”
Telrad CEO Moti Elmaliach adds that the acquisition is an “exciting” step and an opportunity to innovate and grow exponentially in both the Israeli and international markets.
Telrad will continue to be led by Elmaliach as CEO, who will also be appointed to Liquid parent company Cassava group’s executive team and will be part of the international growth of the Liquid business globally.
“Telrad has an incredibly strong track record of success and a rich history of innovation. We are excited to join forces and to leverage Telrad’s expertise across the full technology value chain along with that of Liquid and the wider Cassava group,” he said.
Liquid had announced its intentions of acquiring Telrad in May this year for an undisclosed sum.
This transaction will combine Telrad’s technology solutions with Liquid’s digital infrastructure and services.
In addition, Telrad’s products and extensive R&D capabilities, comprised of two dedicated research and development (R&D) centres, will complement Liquids’ existing portfolio and support the company’s long-term growth strategy.
Specifically, the acquisition will strengthen Liquid’s B2B product segments and its geographic reach, using Telrad’s presence in 13 countries across the Middle East, South America, the US, Eastern Europe and Asia.
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